[10/29] Tonight's USD/JPY scalping points and methods publicly available for free
This is Tomizaki from Trading Office.
【10/29 Dollar/Yen Scalping Points】
Nice work today! Alright, let's go ahead with dollar/yen scalping again tonight!
First, from today's Tokyo time overview.
Currently, the dollar/yen is around 157.85. This morning it started around 157.80, but during Tokyo time it traded near the 158 level without a clear direction.
Last night’s U.S. FOMC meeting left rates unchanged as expected. With two dissenters, expectations for a rate hike lingered, but it didn’t provide a clear directional signal. Fed Chair Powell also seemed cautious and hard to move.
Tomorrow is the Bank of Japan’s policy meeting, but for now I hope today won’t be a mood of watching and waiting.
Dollar/Yen is likely to hand over to overseas trading around roughly the same levels as morning.
Now, here are tonight’s dollar/yen scalping points (my personal notes).
● Movements near 16:00 London market open
● Movements after the release of the U.S. Initial Jobless Claims, U.S. Personal Income, and U.S. Q3 GDP at 21:30
● Movements near the New York market open (Dow opens at 22:30)
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Other notes..
・At 22:15 there will be the Euro area: ECB rate decision & statement
・At 22:45 there will be a press conference by ECB President Lagarde
・Be careful of headlines related to Middle East situations and crude oil prices
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Tonight’s “1-minute chart scalping strategy” targets moves around the London and New York market opens, and moves after 21:30 when U.S. Initial Jobless Claims, U.S. Personal Income, and U.S. Q3 GDP are released. For users of the “1-minute scalping club,” following the strategy should be fine. Also pay attention to ECB-related matters tonight.
Also, the short positions in the “15-minute scalping strategy” seem to be in a market that’s stalled after last night’s FOMC, making it risky to push positions. Tonight, focus safely on “1-minute scalping.”
Regarding the latest,Recently, Mr. Gogojan kindly came all the way to my office for an interview about “Scalping.” I’m grateful. I spoke a little, so please watch it when you have time.
https://www.gogojungle.co.jp/finance/navi/articles/124690
Scalping has a small target profit per trade, so it’s easy to think there are 24-hour opportunities, but that’s not the case. By targeting periods with higher volatility, you can dramatically reduce the difficulty of trading.
The time periods I target are around the London market open and around the New York market open.
・London market open time (16:00 during U.S. daylight saving time / 17:00 during U.S. standard time)
・New York market open time (22:00 during U.S. daylight saving time / 23:00 during U.S. standard time)
Even immediately after U.S. data releases there is higher volatility and more opportunities. However, in the first few minutes after a release the spread can widen, so the rule is to wait for spreads to return to normal before entering a position.
Always check the U.S. indicators and events schedule beforehand. Knowing when opportunities will arise helps you accumulate profits efficiently.
Also, never position immediately before U.S. indicators or events. If you go against the trend, you’ll be in trouble. You can be taken to the stop-loss level in an instant. Carelessness is not acceptable, absolutely not.
U.S. indicators and event schedules can be checked on the websites of each securities or FX broker.
Of course there are various other points besides the three above, but I’ve explained the minimum points you should keep in mind when scalping USD/JPY.
Also..
Actually.. one of my trading methods, the “15-minute scalping,” is openly shared for free. I hope it’s of some help (completely free).
⇒Scalping Method Explanation Book “15-Minute Scalping”
Also, on the following page, I’ve also published my main trading method, the “1-minute scalping,” so if you’re interested please check it out. (Sorry… this one is paid.)
If you’re aiming even higher, please consider it.
⇒“1-minute scalping” using tick charts